Ask Me Anything with KwikTrust at ICO Speaks: Summary

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KwikTrust ama at ICOSpeaks
KwikTrust ama at ICOSpeaks
November 4-th   held an Ask Me Anything session at ICO Speaks telegram chat. From the KwikTrust there were
💻Christina Ashley – CMO @christina_ashley

Hi, I’m Christina! KwikTrust’s CMO. My background lies in SaaS, tech, and of course Blockchain.
My interest in this area was sparked by a colleague while I was working with the AWS partner program. They had an incredible idea and asked me to Joni in helping them build a marketing plan and I was hooked!
Simon and Yasir (our COO) reached out for the KwikTrust project.  There was much potential and passion from the team there was no way I could say no! And am I ever glad I joined!
We are really excited to share it with you today. Thanks for having us!
💻 Simon Read – CEO @simon_read

My background is tech. I’ve built and sold two businesses previously and I’m also a judge and mentor to several tech accelerators.

I first become interested in blockchain technologies and their potential when one of the companies I was mentoring on a tech accelerator decided to pivot their business to blockchain.

After that I did the Oxford Blockchain Strategy Program back in 2018, which is where many of the KwikTrust team first met and started working together.

                                         Let’s get started!
Q:  Can you briefly describe KwikTrust 
A:  KwikTrust is the next generation e-validation platform, and the home of the Super-NFT.
We launched our MVP in June, so we have an active product already being used. The platform provides more secure file validation and storage. The platform enables files to be uploaded and validated. 
This can include contracts, intellectual property, and proof of ownership of digital and physical assets.

More excitingly, we can also lock together the asset and owner’s validated identity into a NFT to create a transferable asset. 
This increases security over ‘old school’ NFTs.

We call this the Super-NFT. We’ve also filed a patent application for the Super-NFT. 
By linking the owner’s validated identity to the asset people will be able to trust higher value assets to NFTs. This will open up the NFT market.
The KwikTrust KTX token is used to mint the Super-NFT so demand for the KTX will increase over time as the market develops, and we feel that the NFT market potential is huge!
We also have a really exciting product roadmap ahead, and we will be releasing new features regularly over the next few months.

Q: Can you please give an outline of the tokenomics of KwikTrust 
A:  We have a limited number of tokens, 100million. We won’t be creating any more tokens. We won’t be burning any of these tokens. 
Regarding token unlock, the plan is to have all the token issued over a very long period, a period of 5 years. 100% of the team tokens are locked for 12 months from IDO.
 At TGE, 20% of the sold tokens will be issued to investors. The remainder will be issued over a period of 12 months, bi-monthly.

 

Considering some of the projects out there, the market cap of KT on IDO will be very tiny, circa 14mil tokens in circulation. At $1 per token this puts the market cap at $14mil.
Of the 14mil tokens, circa 2.5mil tokens are allocated for staking rewards and loyalty programme for the community.
So we have built scarcity in the tokenomics, but one, limiting the amount of total tokens available and second releasing the tokens over a period of 5 years.
As we on-board more users on to the KwikTrust platform, more tokens will become locked in pools for various reasons – discounts, integration of KwikTrust platform into legacy systems of enterprise, minting of SuperNFT, governance vote, etc.

Q: Can you tell us more about your team? What qualifications do they have? 
A:  We have an incredible team behind KwikTrust. and I know a lot of people say that, but in our case it is 100% true, in terms of experience and passion for the project.
We have in-house skills across tech, blockchain, finance, marketing and commercial skills. We also have an intellectual property expert, and an in-house legal team so we can keep on top of legislation and ensure we are regulatory compliant. Our team is also well connected geographically. We have team members in the US, Canada, UK, mainland Europe and Asia.
In terms of qualifications, we have an intellectual property law professor and a qualified in-house full time lawyer. Several of our team completed the University of Oxford Blockchain Strategy Programme. We also have strong skills across marketing, tech, finance and commercial skills.
You can see the team and their skills on our website at https://www.kwiktrust.com/#team


Q: Can you tell us how you are planning to change-up NFTs and incorporate into your project in the future? 
A:  Our view is that the NFT market is still in its relative infancy and we haven’t seen the true potential of NFTs yet, beyond digital artworks that we are seeing today.

As a store of value it has much more potential. In the future we will see more assets – Digital and physical – represented as NFTs.

As I touched on earlier, we feel that the Super-NFT has great potential, and it’s a significant step forward in the field of NFTs.

The Super-NFT locks together the owner’s validated identity with the asset.

As I mentioned earlier, we’ve filed a patent application for the Super-NFT. (and I loved your gif by the way!)
This enables us to provide the technology to other platforms and marketplaces.

Super-NFTs can also be used as security in financial markets. This will change the NFT market paradigm.

There are lots of exciting opportunities in this field!
Q: What is in the pipeline for KwikTrust? Are there any new and exciting features you are working on?

A:  We have an exciting product roadmap, and we will be rolling-out regular new features over the coming months.
We’ll be launching a KYC – Know Your Client component for professional services firms to be able to onboard new clients in a regulatory compliant manner.
We are also launching the Super-NFT into the fractional ownership space, with an exciting partnership that we will be announcing soon!

The IDO is slated in for early December, and we are really positive about the IDO. As we all know,  the markets are quite favourable right now.


Q: How do you plan to keep and even increase the value of your token over time? Will you be introducing staking? 

A:  That’s a great question. Yes, we will be introducing staking. We’ve given a lot of thought to increasing the value of the token over time, and we have a practical solution for this.

The KTX is tied directly to the Super-NFT. To mint a Super-NFT you need to use the KTX.

Also, anyone who wants to incorporate the Super-NFT into their own platform needs to buy and maintain a minimum quantity of KTX.

As the Super-NFT starts to gain traction, this will increase the demand for the KTX token. 
For that reason we really encourage people to hold their KTX token over the longer term.

Q: Is it still possible to participate in your pre-sale? 
A: We are working with the amazing team at YFDAI who are conducting the presale.

Unfortunately it’s now too late to stake directly with YFDAI, but we have secured an allocation by staking YFDAI on behalf of the KwikTrust community.
 
You can enter the lottery at bit.ly/ktlottery. It’s a lottery so not everyone will get an allocation. The winners will be announced at the start of December.

To keep up with updates, on other opportunities to participate you can also join the KwikTrust Official telegram channel at https://t.me/joinchat/eqjfolpdhuQ4ZGE0.

 

Q: Do you have any community events coming up?

A:  I’ve got this one too. Community is incredibly important to us, which is why we are continually looking for ways to help them get involved and keep things interesting 😉

We are currently running a sticker competition, we will be launching our ambassador program in the coming week and are working on a new KTX (token )logo competition.

The sticker competition ends today, but there is still time to submit a few enteries, there are some killer prizes linked to it  😄

As mentioned above we also have the pre-sale lottery and are looking to offer a few more community events surrounding the token soon.

Finally, we have our weekly drop in session every Friday at 4pm UTC where community members can grill our team members on all things KwikTrust, especially the Super-NFT 😉

For all participants in the drop in there is the chance to win $50 as well. So come join us on this crazy journey- we are always planning new things for our community and like to give them early access to new announcements and events.


Q: Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

A:  We are definitely a global project! We are looking to  several markets including Europe, UK, Asia-Pacific, North America and the Middle East.
Q: Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??

A:  We are currently working on a few different translations of key information for our project and have team members across the globe. First up for translations is Mandarin and Spanish, and we are excited to keep going and growing with them.

Q: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?

A:  Yes. One of the uses of the utility token is to purchase a voting identity. It’s really important to us that we work closely with our community as that’s often where the best ideas can come from. There will be a range of voting options coming up that inform our strategy and open up new opportunities for the community.
 
Q: What achievements have been obtained during the project? are there any unfulfilled achievements in the past year?

A:  Our biggest achievement to date is launching the MVP. It was really important for us that we get the MVP out there into the hands of real users, before we emabarked on the KTX token issue. We wanted to validate the business model and prove that the team has the ability to build a product and get it out to the real world.

Q: What are you focusing right now?

A: We are currently focusing on building the community and raising awareness of the KwikTrust KTX token. After the IDO we will continue to work closely with the community and push to increasse the use of the KTX for minting Super-NFTs. This will increase the demand for the KTX.

Q: As the crypto market is expanding, we are seeing  the hot topic is NFT. Do you guys have any plan to jump into one of the most competitive segments of the crypto market right now?

A: We are right in the middle of the NFT space. We’ve created the Super-NFT which is a more secure version of the NFT which links identity to the asset. This will open up the NFT market so people can trust higher value assets to NFTs. It’s a very exciting time to be in this space.


Q:  As the crypto market is expanding, we are seeing  the hot topic is NFT. Do you guys have any plan to jump into one of the most competitive segments of the crypto market right now?

A:  We are right in the middle of the NFT space. We’ve created the Super-NFT which is a more secure version of the NFT which links identity to the asset. This will open up the NFT market so people can trust higher value assets to NFTs. It’s a very exciting time to be in this space.
ICOSpeaks hosted an AMA Session with the KwikTrust Team. That’s all for today.
Thanks to all users who participated.
Thanks, KwikTrust for being with us
Thanks, all and see you soon😉
Cheers 🥂

 

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